Sandy Ingram  

The Central Bank of Iraq has imposed regulations on currency transactions…As of January 1, 2024 Iraq banned cash withdrawals and transactions in US dollars to prevent the misuse of hard currency reserves and to comply with international sanctions, particularly concerning Iran.  Despite these control the Iraqi dinar is used in international trade and the country engages in foreign exchange activities.  The CBI has increased overseas dollar transactions through the official Global Swift System to combat the black market and ensure compliance with international financial standards.  Due to restrictions, exchanging Iraq currency for US dollars is difficult.  As investors it appears we must wait for Iraq’s future international policies before we can trade in our Iraqi dinar for US dollars.